| Sen. Johnny Isakson dropped by Carter this week to share his views on the world of real estate. And while perhaps best known for being in Congress, Johnny (above, second from right, at Carter's offices with Jim Shelton, Bob Peterson, and Scott Taylor) is the founder of residential real estate firm Northside Realty. The senator says the health of the residential market (or lack thereof) is tied to retail CRE's recovery. ?Shopping center leases are directly proportional to consumer spending, which is directly proportionate in part to home ownership,? Johnny says. ?As long as residential real estate is as suppressed as it is now, you are going to continue to see very anemic growth.? Johnny also blamed government regulation of the mortgage industry for holding back housing demand. ?We now had the pendulum go back 180 degrees in the other direction,? he says. ?It's so tight, there's basically no financing out there for residential mortgages unless it's crystal.? |
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